High Yield Calendar: $3.25 billion and €400 million deals being marketed

Dec. 9 Week

SALIX PHARMACEUTICALS LTD.: $750 million seven-year senior notes (B2/B); Jefferies LLC (sole books), Fifth Third, Natixis, PNC Capital Markets LLC, RBS Securities Inc., SMBC, SunTrust Robinson Humphrey Inc. (co's); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of the coupon; to fund the acquisition of Santarus Inc.; Salix is a Raleigh, N.C.-based developer and marketer of prescription pharmaceutical products; Santarus is a San Diego-based specialty biopharmaceutical company; price talk 6% to 6¼%; books close 4 p.m. ET Wednesday (9 a.m. ET Thursday for accounts meeting the company on Wednesday); pricing Thursday.

ELETSON HOLDINGS INC.: $290 million eight-year senior secured first-priority ship mortgage notes; Jefferies LLC, DNB (joint), Clarkson, Brock (co's); Rule 144A and Regulation S for life; non-callable for four years; to refinance debt and for general corporate purposes, including the acquisition of future vessels; Piraeus, Greece-based diversified industrial maritime transporter of refined oil products and liquefied petroleum gas; price talk 9¾% to 10%, including 1 to 1.5 points of OID; books close Wednesday at 4 p.m. ET for all accounts in the United States (9:30 a.m. ET Thursday for accounts in Los Angeles with Wednesday meetings and for international accounts); pricing Thursday morning.

WALTER INVESTMENT MANAGEMENT CORP.: $500 million senior notes due 2021 (B3/B); Barclays, Morgan Stanley & Co. LLC, BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, RBS Securities Inc., J.P. Morgan Securities LLC (joint); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of the coupon; 101% poison put; to finance the acquisition of mortgage servicing rights, to repay bank debt and for general corporate purposes; Tampa, Fla.-based asset management company; price talk 7 7/8% area; books close 5 p.m. ET Wednesday, except for West Coast accounts; pricing Thursday morning.

CTP TRANSPORTATION PRODUCTS, LLC and CTP FINANCE INC.: $250 million six-year senior secured notes due 2019 (B2/B+); SunTrust Robinson Humphrey Inc. (left books), Credit Suisse Securities (USA) LLC (joint books); Rule 144A for life; callable after three years at par plus 50% of the coupon; to fund the acquisition of the company by American Industrial Partners from Carlisle Cos.; Franklin, Tenn.-based manufacturer of specialty tires, wheels and power transmission belts; price talk 8 3/8% area; books close at 4 p.m. ET Thursday; pricing Friday morning.

PORTAVENTURA ENTERTAINMENT BARCELONA BV: €400 million senior secured notes (/B-/) in two tranches: €250 million seven-year fixed-rate notes, with three years of call protection, price talk 7½% to 7¾%, and €150 million six-year floating-rate notes, with one year of call protection, price talk Euribor plus 550 to 575 bps at 99; JPMorgan (global coordinator, bill and deliver), KKR (global coordinator), Banca March, BNP Paribas, Caixa, Commerzbank, Nomura (joint books); Rule 144A and Regulation S for life; to repay debt and fund a shareholder distribution; Salou, Spain-based integrated destination resort; books close Thursday.

ROUNDY'S SUPERMARKETS, INC.: $200 million seven-year senior secured second-lien notes; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC (joint); Rule 144A and Regulation S for life; callable after three years at par plus 75% of the coupon; three-year 35% equity clawback; 101% poison put; to fund the acquisition of Dominick's stores and to repay debt; Roundy's is a Milwaukee-based supermarket chain; roadshow started Dec. 9; pricing late Dec. 9 week.

MEMORIAL RESOURCE DEVELOPMENT LLC and MEMORIAL RESOURCE FINANCE CORP.: $350 million five-year senior PIK toggle notes due 2018 (expected ratings Caa1/B-); Citigroup Global Markets Inc., BMO Capital Markets, Wells Fargo Securities LLC (joint), BofA Merrill Lynch, Barclays, BBVA, Capital One Securities, Comerica Securities, Credit Agricole CIB, J.P. Morgan Securities LLC, ING, Natixis, RBC Capital Markets, RBS Securities Inc., U.S. Bancorp Investments Inc., Mitsubishi UFJ Securities (co's); Rule 144A for life and Regulation S; callable after one year at 102; 100% equity clawback at 102 in year one; 75 bps PIK coupon step-up; to finance a distribution to funds managed by NGP, retire Memorial Resource Development revolver and fund additional liquidity at Memorial Resource Development, including debt service reserve; Houston-based upstream master limited partnership focused on the acquisition, production and development of oil and gas properties in the United States; roadshow Dec. 9-13; pricing expected Dec. 13.

SIERRA HAMILTON: $110 million five-year senior secured notes; Lazard Capital Markets; Rule 144A for life; non-callable for two years; to refinance debt and fund a small dividend; Houston-based exploration and production company; pricing late Dec. 9 week.

Dec. 16 Week

GLOBAL SHIP LEASE INC.: $400 million seven-year first-priority secured notes (expected ratings B3/B); Citigroup Global Markets (sole); Rule 144A and Regulation S; callable after three years at par plus 50% of the coupon; to refinance debt and terminate existing interest rate swaps; London-based containership charter owner; roadshow Dec. 11-17.

CAMAC ENERGY INC.: $300 million senior secured notes due 2018; Arctic Securities; Rule 144A and Regulation S; to further develop the Oyo Field located offshore Nigeria in OML Block 120; Houston-based independent oil and gas exploration and production company; roadshow expected during the Dec. 16 week.

Expected December Business

DARLING INTERNATIONAL INC.: $500 million senior notes (B1); Rule 144A and Regulation S; to satisfy, discharge and redeem the 8½% senior notes due 2018, to finance a portion of the acquisition of the Vion Ingredients division of Vion Holding NV and for general corporate purposes; also $1.2 billion term loan via J.P. Morgan Securities LLC, BMO Capital Markets and Goldman Sachs Bank USA, launched Dec. 2 week; Darling is an Irving, Texas-based provider of rendering, recycling and recovery solutions to the food industry; Vion Ingredients is a Son en Breugel, the Netherlands-based developer and producer of specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy.

On The Horizon

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital, to launch at a Nov. 12 bank meeting; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC+); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

COMMUNITY HEALTH SYSTEMS INC. $4.58 billion bridged debt: $2.205 billion senior secured and $2.375 billion senior unsecured; BofA Merrill Lynch, Credit Suisse Securities (USA) LLC; to help fund its acquisition of Health Management Associates Inc., expected to close in the first quarter of 2014; Community Health is a Nashville, Tenn.-based hospital company. Health Management is a Naples, Fla.-based owner and manager of hospitals and ambulatory surgery centers.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes; BofA Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider.

GOOD SAM ENTERPRISES LLC: New high-yield notes; to fund the tender for the 11½% senior secured notes due 2016, via dealer manager Goldman Sachs & Co., early deadline Nov. 19; Lincolnshire, Ill.-based specialty retailer of RV-related products and a member-based direct marketing organization targeting recreational vehicle owners and outdoor enthusiasts.

IONA ENERGY CO. (UK) LTD. (IONA ENERGY INC.): $250 million to $300 million callable senior secured bonds; Pareto Securities; to refinance credit facility, of which approximately $139 million is drawn, and to partially retire its existing structured energy derivative transaction, also to fund the delivery of its Orlando and Kells projects to first oil, as well as mature and accelerate its other pipeline of development opportunities; Calgary, Alta.-based oil and gas exploration, development and production company focused on oil and gas development in the United Kingdom's North Sea.

JARDEN CORP.: $795 million bonds and bank loans, sizes to be determined; to help fund its acquisition of Yankee Candle Investments LLC from Madison Dearborn Partners LLC for $1.75 billion in cash, expected to close early in the fourth quarter of 2013; Jarden is a Rye, N.Y.-based provider of consumer products; Yankee Candle is a South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of scented candles.

KENAN ADVANTAGE GROUP: Dollar- and Canadian dollar-denominated unsecured high-yield notes and term loans; to refinance a portion of the senior secured credit facility, a refinancing undertaken in conjunction with the acquisition of Westcan Group, which closed on Nov. 15, 2013; Kenan is a North Canton, Ohio-based freight company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications.

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

ORIONSTONE PTY LTD.: $200 million seven-year secured notes (B3/B); non-callable for three years; Rule 144A for life; Morgan Stanley & Co. LLC bookrunner; proceeds to repay debt; Mackay, Australia-based supplier of heavy earthmoving rental equipment to the infrastructure, oil, gas and mining industries; expected September business.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

U.S. XPRESS ENTERPRISES, INC.: $250 million senior secured second-lien notes due 2020 (Caa1/B-); Wells Fargo Securities LLC (left books), Morgan Stanley & Co. LLC (joint books), Regions Securities LLC (co); Rule 144A and Regulation S with registration rights; callable in three years at par plus 75% of the coupon; to repay the existing senior secured credit facility, receivable securitization facility and other debt; Chattanooga, Tenn.-based truckload carrier and a diversified provider of truckload, intermodal and logistics services; price talk 9½% to 9¾%.

VISANT CORP.: Up to $100 million senior notes and $260 million credit facility; Credit Suisse Securities (USA) LLC; to help fund its acquisition of American Achievement Group Holding Corp., expected to close no later than the second quarter of 2014; Visant is an Armonk, N.Y.-based marketing and publishing company. Jostens is a Minneapolis-based yearbook and scholastic affinity company.

WEYERHAEUSER REAL ESTATE CO. (WRECO): New senior unsecured notes; to help fund the merger with TRI Pointe Homes in a transaction valued at approximately $2.7 billion, anticipated to close in the second quarter of 2014 (a portion of the proceeds to be paid to Weyerhaeuser at closing); Wreco is the homebuilding subsidiary of Federal Way, Wash.-based Weyerhaeuser Co.

Roadshows

Dec. 9-11: WALTER INVESTMENT MANAGEMENT $500 million; Barclays, Morgan Stanley, BofA Merrill Lynch, Credit Suisse, RBS, JPMorgan.

Dec. 9-11: PORTAVENTURA €400 million; JPMorgan, KKR, Banca March, BNP Paribas, Caixa, Commerzbank, Nomura.

Pricing late Dec. 9 week: SIERRA HAMILTON $110 million; Lazard.

Started Dec. 9: SALIX PHARMACEUTICALS $750 million; Jefferies.

Started Dec. 9: CTP TRANSPORTATION $250 million; SunTrust, Credit Suisse.

Started Dec. 9: ROUNDY'S SUPERMARKETS $200 million; Credit Suisse, JPMorgan.

Dec. 9-13: MEMORIAL RESOURCE DEVELOPMENT $350 million; Citigroup, BMO, Wells Fargo.

Pricing Dec. 12: ELETSON $290 million; Jefferies, DNB.

Dec. 11-17: GLOBAL SHIP LEASE $400 million; Citigroup.

Dec. 16 week: CAMAC ENERGY $300 million; Arctic Securities.

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